504 Loan Servicing/Closing Specialist
As the 504 Loan Servicing/Closing Specialist
, you will be a key partner in our ability to execute LiftFund's
Mission. To be a Lifter is to believe- that no matter their background-doors should be open for everyone. We are among the leading community development financial institutions (CDFI) that have a coveted Four-Star rating from Charity Navigator. We support entrepreneurs--that work hard every day--to create a better life for themselves and their families, while providing jobs and services to the communities they serve. Lifters are working across 14 states to provide affordable, responsible credit, create and sustain jobs, and stabilize communities. Our work transforms lives!
is recognized locally and nationally for our innovation, advisory services, and ability to be at the forefront of redefining the financial services industry at the community level. If you are looking for an opportunity to impact your community—we just might have the role for you!!!
The Loan Servicing/Closing Specialist for the 504 Loan program will work in partnership with CDC Loan Officers, Staff Assistants, Underwriting team and the Funding department to successfully package, approve and fund SBA 504 loans. The Loan Servicing/Closing Specialist is responsible for maintaining the integrity of the file and ensuring that all fundamental file parameters are met in accordance with the U.S. Small Business Administration’s Standard Operating Procedures as well as LiftFund’s internal guidelines.
Your Key Responsibilities
- Communicate both verbally and via email with borrowers, lenders, brokers, CDC Attorneys, and internal CDC staff as necessary to move loan file through process in a timely manner.
- Submit loan file to CDC Underwriting Department and monitor progress
- Provide copy of SBA signed authorization to appropriate party/parties
- Obtain signed SBA Authorization from borrower within required time frame
- Correct any discrepancies/changes required in authorization via a 327 action and log into CDC Ventures+
- Determine estimated funding date and lender closing contact for debenture funding on 504 loans
- Submit file to Closing Analyst/CDC Closing Attorney as applicable
- Regularly update Loan Officers on status of each loan file
- Develop and send a Client Checklist of items required to complete the loan file for purposes of submittal to the SBA
- Work directly with the appropriate party/parties to receive all client checklist items in a timely manner
- Review Client Checklist items as received for accuracy and completeness
- Ensure IRS verifications are complete per loan program requirements
- Utilize Staff Assistants for obtaining all applicable credit searches (i.e, Experian, CAIVRS, SAM)
- Maintain accurate and complete loan file in Ventures+ throughout loan process
- Proactively work on loan files to ensure that all applicable escrow deadlines are met, and loan file is funded
- Update CDC Ventures+ and internal database with any changes as they occur throughout the loan process
To Qualify for the Role, You Must Have
- Must have a High School Diploma
- Minimum of 2 years of experience in commercial loan processing
- Minimum of 1 year of successful remote work experience
- Strong internet and communication connection (position is remote)
- Advanced communication skills: you will work verbally and in writing with Attorneys, Bankers, business partners, potential customers, and teammates
- Proficiency with MS Office applications
- Strong ability to multi-task and achieve deadlines
- Ability to prioritize, have initiative, and remain organized
- Ability to perform work with accuracy and a high attention to detail
- Agile in thought and open to change
- Ability to operate in a fast-paced environment, balancing both strategic and tactical responsibilities
- Engage in and support a collaborative and healthy work environment
- Customer service orientation
It Would Be Great If You Had
- Associates or bachelor’s degree
- Knowledge of Ventures Program
- Direct experience processing, originating, and closing SBA loans.
- Working knowledge of SBA Standard Operating Procedure (SOP) 50 10 6
- Bilingual in English & Spanish
What We Offer
This position is categorized as REMOTE Local candidates may have the flexibility to work at our corporate office in San Antonio Texas, once the environment is clearly safe to do so.
We enjoy all Bank and National Holidays and have a competitive benefits and compensation package.
LiftFund provides equal employment opportunities to applicants and employees without regard to race, color, religion, age, sex, sexual orientation, gender identity/expression, national origin, protected veteran status, disability status, or any other legally protected basis, in accordance with applicable law.